Good morning
We’re pleased to announce a live 30-minute interview with Marc Lustig, the CEO of CannaRoyalty Corp. (CSE:CRZ), this Thursday afternoon EST, September 27. We’re pinning down a time but we’re shooting for 1:30 pm EST.
Join us live on our YouTube page for this exclusive interview, and ask questions in real time.
CannaRoyalty is an operator and investor in the huge California cannabis market.
The company’s stock in the last six months is neck and neck with Canopy Growth, up about 100%, and has outperformed in the last month.
Stay tuned for more details about this special live event!
CANADIAN ANALYSTS’ CALLS
INITIATIONS
D.A. Davidson begins coverage with a "buy" and a target of $68 (U.S.).
Mackie Research is hiking the target price to $8.70 (Canadian) from $2, which implies more than 1,000% upside, and maintains "speculative buy", based on a positive trial result.
Mackie boosts the target to $6.50 from $1.75, implying 75% gains, and maintains a "buy" after the company struck a joint venture with the Serruya family for a retail operation.
Canaccord Genuity moves the target to $13 from $11 and maintains "speculative buy" following the company's earnings report.
CIBC raises the target to $67 from $64, and maintains an "outperformer" after meeting with the CEO.
U.S. ANALYSTS’ CALLS
Oppenheimer boosts the target to $210 (U.S.) from $175 on this former cover story of ours. The stock is trading up in pre-market to about $179.91.
RBC lifts the target to $200 from $187, which gives the stock 29% upside, and maintains an "outperform".
Oppenheimer upgrades to "outperform" and lifts the target to $9, giving the stock 36% upside.
STOCKS THAT MAY MOVE
is buying auto dealership properties from AutoCanada (TSX:ACQ) for about $55.5 million. The REIT will pay for the purchase with a bought deal financing in which it will sell 5.1 million units at $10.80 per unit for $55.1 million.
is striking while its stock is hot by raising $45 million in a bought deal financing through a group led by Eight Capital, which is buying 15 million units at $3 each. Namaste closed yesterday at $3.13.
is buying Schafer Systems, a global provider of lottery ticket dispensers and play stations, for $23.5 million (U.S.) in cash.
has struck a $12 million supply deal with Tilray (NASDAQ:TLRY).
goes public today at a price of $12 per share, giving the company a market cap of about $1.46 billion.
has dismissed as "fictions" reports the company is looking to merge with UBS or Commerzbank.
With files from The Globe and Mail, Reuters and Bloomberg News.
MARKETS
TSX and U.S. equity futures are modestly higher ahead of an announcement today from the Federal Open Market Committee when it’s expected to raise its key interest rate to a still historically low 2.25%.
MSCI’s world stocks index is sitting near a sixmonth high as Chinese indices gained some ground overnight.
CURRENCIES
The Canadian dollar is drifting at $77.18 U.S.
Bitcoin is up 1% to $6,498.
COMMODITIES
West Texas Intermediate is down 0.6% to $71.83 a barrel (U.S.)
Gold is of 0.5% at $1,199.70 an ounce.
DAILY UPDATE
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